The truth is that most of you reading this article do not have a written plan.

Why?

Let's see. You know you need a business plan. You've heard it from many sources, "Write your business plan!" So, you sit down and begin. Hmmm... bios, sales and growth projections, competition, graphs, marketing. It all seems so overwhelming. You realize this is going to take longer than you thought. You put it down to continue another night. That night doesn't come.

Sound familiar?

How about this scenario: you actually finish your business plan. One year later, you realize you have not accomplished your goals, your finances are not where they were projected. You feel like you are failing.

Can anyone relate?

Relax, it's okay. The big business plan gig is really not for us small, home-based owners. So, scrap the big business plan.

Here's a better idea.

It's not that big business plans don't work for us, rather, they can't work.

The traditional business plan is really only for one reason — to sell your business idea to investors. If you're looking for venture capital, you have to put together a big business plan, and a very good one at that. While a very small sampling of you may wish to go this direction, the reality is that most home-based business owners are simply wanting to make a decent living at home.

In a poll of 300 online home-based business owners, 64% said they work part-time on their online business and receive part-time income from it. A pretty big chunk of online home-based businesses. These are people who are simply looking for a little extra cash, or they look at their business as a hobby.

In contrast, a paltry 16% of home business owners works full-time at home and receives full-time income. I would venture to say that an extremely small percentage of this group is actually looking for serious venture capital to take their business to another level.

Don't get me wrong, we could all use a little extra funding, but that's not what we're talking about here. A few thousand dollars to start up your business doesn't usually come from investors.

Keeping this in mind, if we put together a traditional business plan (to impress investors), generally, what we put into the plan, will be the wrong things for the wrong reasons. If impressing the investors is not your intent, you can't succeed in this kind of plan. It's that simple.

So, do you actually need a business plan?

Oh, yes! You simply don't need the traditional business plan. Rather, what you need is a plan that will help you (and only you) take control of our own business. Think of it as a guide that will give you direction and keep you on track.

Ask yourself these questions:
1) Why am I doing this business? What are my motives?
2) What do I personally want to do with this business? What do I want to gain?
3) What are my personal strengths to offer to the business? What are my weaknesses?
4) What new knowledge will I need?
5) What parts of my business can I outsource?
6) Where do I want to be in six months from now? One year? Five years?

See the difference? These questions are you-based. Write down your answers as a preface to your plan. Refer to these questions often and adjust your answers as your perspectives change over time and as your knowledge grows.

Now, with the above in mind, go ahead and pencil in your thoughts on the following. Your answers won't have to be terribly involved. This gives you a roadmap, nothing more. And, it will change and evolve over time. Remember, you're not answering to anyone but yourself. You're not trying to impress anyone.

• Business Mission
  Define it as YOU see it.



• Evaluate the Past
  Take stock in what your business has done in the past year. Summarize your business' strengths and weaknesses. Ask yourself, "Is my business profitable or does it indicate that it will be?" "Have I attracted new customers?" "Have I maintained customers?" "Am I happy with where my business is going?"



• Your Personal Competitive Edge
  This is not about your great domain, nor what great products you have, rather, this is what YOU, personally offer... your own innovation, what powers your business. YOU are your small business' brand, its greatest asset. You must think in these terms.



• Your Business Competitive Edge
  This is where you list your products/services. Separately list those you have and those you plan to add. Include any patents, logos, designs, licenses, domains, any kind of intellectual property.



• Customer Relationships
  As a small, home-based business owner, your marketing is very different from big or even mid-sized companies. Your marketing heavily relies on relationshi
  What Does It Take To Start Your Own Business?
  How many times have you thought to yourself, “Wouldn’t it be great if I could start my own business, be my own boss, and finally earn what I am worth?” There are many people who have this dream, the problem is they have no idea how to go about it and get bogged down by the details.You certainly should not take this list as an end all for what is required to start a traditional brick and mortar business; however it will outline some of the steps involved so that you can have a more clear understanding of what is truly involved.1. A Business Plan.You may require consultation with a business coach or some other professional, but the first thing you need to do is outline a plan of action and also define what your mission is going to be. What services will you provide?
  usiness plans don't work for us, rather, they can't work.

  The traditional business plan is really only for one reason — to sell your business idea to investors. If you're looking for venture capital, you have to put together a big business plan, and a very good one at that. While a very small sampling of you may wish to go this direction, the reality is that most home-based business owners are simply wanting to make a decent living at home.

  In a poll of 300 online home-based business owners, 64% said they work part-time on their online business and receive part-time income from it. A pretty big chunk of online home-based businesses. These are people who are simply looking for a little extra cash, or they look at their business as a hobby.

  In contrast, a paltry 16% of home business owners works full-time at home and receives full-time income. I would venture to say that an extremely small percentage of this group is actually looking for serious venture capital to take their business to another level.

  Don't get me wrong, we could all use a little extra funding, but that's not what we're talking about here. A few thousand dollars to start up your business doesn't usually come from investors.

  Keeping this in mind, if we put together a traditional business plan (to impress investors), generally, what we put into the plan, will be the wrong things for the wrong reasons. If impressing the investors is not your intent, you can't succeed in this kind of plan. It's that simple.

  So, do you actually need a business plan?

  Oh, yes! You simply don't need the traditional business plan. Rather, what you need is a plan that will help you (and only you) take control of our own business. Think of it as a guide that will give you direction and keep you on track.

  Ask yourself these questions:
  1) Why am I doing this business? What are my motives?
  2) What do I personally want to do with this business? What do I want to gain?
  3) What are my personal strengths to offer to the business? What are my weaknesses?
  4) What new knowledge will I need?
  5) What parts of my business can I outsource?
  6) Where do I want to be in six months from now? One year? Five years?
  
  See the difference? These questions are you-based. Write down your answers as a preface to your plan. Refer to these questions often and adjust your answers as your perspectives change over time and as your knowledge grows.

  Now, with the above in mind, go ahead and pencil in your thoughts on the following. Your answers won't have to be terribly involved. This gives you a roadmap, nothing more. And, it will change and evolve over time. Remember, you're not answering to anyone but yourself. You're not trying to impress anyone.

  • Business Mission
    Define it as YOU see it.
  
  
  
  • Evaluate the Past
    Take stock in what your business has done in the past year. Summarize your business' strengths and weaknesses. Ask yourself, "Is my business profitable or does it indicate that it will be?" "Have I attracted new customers?" "Have I maintained customers?" "Am I happy with where my business is going?"
  
  
  
  • Your Personal Competitive Edge
    This is not about your great domain, nor what great products you have, rather, this is what YOU, personally offer... your own innovation, what powers your business. YOU are your small business' brand, its greatest asset. You must think in these terms.
  
  
  
  • Your Business Competitive Edge
    This is where you list your products/services. Separately list those you have and those you plan to add. Include any patents, logos, designs, licenses, domains, any kind of intellectual property.
  
  
  
  • Customer Relationships
    As a small, home-based business owner, your marketing is very different from big or even mid-sized companies. Your marketing heavily relies on relationsh
    Finding Your Target Market - The Prince and the Anti-Aging Cream
    After poor web seminar results, the prince thought that maybe door-to-door sales would be more successful. On his first big day, Prince Mark woke up eager and excited about his new venture. With his product line and sales brochures in tow he began his journey through the village. He first approached a young mother who was strolling twin infants. "Perfect for my diaper rash cream!" he thought. Prince Mark gave his ever so charming sales pitch to the young mother. He even cooed and tickled the young infants. Until one yanked his hair and the other began to scream at the top of his lungs. Yikes! This was more than he had anticipated. Prince Mark was not very familiar with children and knowing little about mothering, he was unable to answer many of his potential customer's questions.
    business to another level.

    Don't get me wrong, we could all use a little extra funding, but that's not what we're talking about here. A few thousand dollars to start up your business doesn't usually come from investors.

    Keeping this in mind, if we put together a traditional business plan (to impress investors), generally, what we put into the plan, will be the wrong things for the wrong reasons. If impressing the investors is not your intent, you can't succeed in this kind of plan. It's that simple.

    So, do you actually need a business plan?

    Oh, yes! You simply don't need the traditional business plan. Rather, what you need is a plan that will help you (and only you) take control of our own business. Think of it as a guide that will give you direction and keep you on track.

    Ask yourself these questions:
    1) Why am I doing this business? What are my motives?
    2) What do I personally want to do with this business? What do I want to gain?
    3) What are my personal strengths to offer to the business? What are my weaknesses?
    4) What new knowledge will I need?
    5) What parts of my business can I outsource?
    6) Where do I want to be in six months from now? One year? Five years?
    
    See the difference? These questions are you-based. Write down your answers as a preface to your plan. Refer to these questions often and adjust your answers as your perspectives change over time and as your knowledge grows.

    Now, with the above in mind, go ahead and pencil in your thoughts on the following. Your answers won't have to be terribly involved. This gives you a roadmap, nothing more. And, it will change and evolve over time. Remember, you're not answering to anyone but yourself. You're not trying to impress anyone.

    • Business Mission
      Define it as YOU see it.
    
    
    
    • Evaluate the Past
      Take stock in what your business has done in the past year. Summarize your business' strengths and weaknesses. Ask yourself, "Is my business profitable or does it indicate that it will be?" "Have I attracted new customers?" "Have I maintained customers?" "Am I happy with where my business is going?"
    
    
    
    • Your Personal Competitive Edge
      This is not about your great domain, nor what great products you have, rather, this is what YOU, personally offer... your own innovation, what powers your business. YOU are your small business' brand, its greatest asset. You must think in these terms.
    
    
    
    • Your Business Competitive Edge
      This is where you list your products/services. Separately list those you have and those you plan to add. Include any patents, logos, designs, licenses, domains, any kind of intellectual property.
    
    
    
    • Customer Relationships
      As a small, home-based business owner, your marketing is very different from big or even mid-sized companies. Your marketing heavily relies on relationsh
      Target Student Profiling & Competitive Education Pricing Analysis
      In the past few weeks we’ve seen a number of clients express concern regarding the value of Enrollment Management Consulting prior to initiating a Direct Response Enrollment Marketing campaign.On the one hand, it makes sense why schools that are used to buying education leads would not be interested in contracting a consultant: what’s the point? This attitude has arisen—I think—because for the most part, schools don’t see how consultant work can be applied to generating college applications or education lead generation.What these schools may not know, is that there are many benefits to contracting a consultant prior to initiating a Direct Response Enrollment Marketing campaign. Consultants that have experience generating more applications and enrollments are particularly well
      are my personal strengths to offer to the business? What are my weaknesses?
      4) What new knowledge will I need?
      5) What parts of my business can I outsource?
      6) Where do I want to be in six months from now? One year? Five years?
      
      See the difference? These questions are you-based. Write down your answers as a preface to your plan. Refer to these questions often and adjust your answers as your perspectives change over time and as your knowledge grows.

      Now, with the above in mind, go ahead and pencil in your thoughts on the following. Your answers won't have to be terribly involved. This gives you a roadmap, nothing more. And, it will change and evolve over time. Remember, you're not answering to anyone but yourself. You're not trying to impress anyone.

      • Business Mission
        Define it as YOU see it.
      
      
      
      • Evaluate the Past
        Take stock in what your business has done in the past year. Summarize your business' strengths and weaknesses. Ask yourself, "Is my business profitable or does it indicate that it will be?" "Have I attracted new customers?" "Have I maintained customers?" "Am I happy with where my business is going?"
      
      
      
      • Your Personal Competitive Edge
        This is not about your great domain, nor what great products you have, rather, this is what YOU, personally offer... your own innovation, what powers your business. YOU are your small business' brand, its greatest asset. You must think in these terms.
      
      
      
      • Your Business Competitive Edge
        This is where you list your products/services. Separately list those you have and those you plan to add. Include any patents, logos, designs, licenses, domains, any kind of intellectual property.
      
      
      
      • Customer Relationships
        As a small, home-based business owner, your marketing is very different from big or even mid-sized companies. Your marketing heavily relies on relationsh
        Trends: They Can Make A Person Very Wealthy
        Due to the internet, it is very easy for a creative and innovative person to do research on potential business opportunities. Not only are their a variety of websites that offer past market research, there are many that forecast the future of different markets as well as upcoming trends. Looking at trends provides great opportunities because they look at the future. Being one of the first to be involved with a new trend can pay off.Looking back at the last few years their have been a good amount of trends. The internet is one. The people that believed the internet would become a worldwide marketplace got involved with it long before others accepted it. Now a lot of those that were first to market are very successful.An additional trend was the housing boom. Those that got inv
        ness' strengths and weaknesses. Ask yourself, "Is my business profitable or does it indicate that it will be?" "Have I attracted new customers?" "Have I maintained customers?" "Am I happy with where my business is going?"
      
      
      
      • Your Personal Competitive Edge
        This is not about your great domain, nor what great products you have, rather, this is what YOU, personally offer... your own innovation, what powers your business. YOU are your small business' brand, its greatest asset. You must think in these terms.
      
      
      
      • Your Business Competitive Edge
        This is where you list your products/services. Separately list those you have and those you plan to add. Include any patents, logos, designs, licenses, domains, any kind of intellectual property.
      
      
      
      • Customer Relationships
        As a small, home-based business owner, your marketing is very different from big or even mid-sized companies. Your marketing heavily relies on relationships. Write down the ways you make or plan on making relationships with your customers. Think innovatively in terms making relationships. Don't simply jot down a laundry list of ways you will advertise.
      
      
      
      • Business Relationships
        List your partners (your spouse?), strategic partnerships you have made or plan to make, mentors, industry experts. Who generally and specifically will help you grow and develop your business? List external and management relationships such as your banker, your CPA, your attorney. List your suppliers. Think about how involved you want your family and friends to be involved in your business.
      
      
      
      • Finances
        This should identify a clear plan for quantifying results. Develop landmarks and goals. Yes, forecast, budget and project. This is something you need to do to keep your focus. Review this from time to time and set yourself back on course if you begin to stray, or re-evaluate to make more realistic changes.

      Phew! Now, take a deep breath and you will find that this exercise will actually do more to help you focus and grow your business the way YOU choose than any other traditional business plan ever could.

      Why not sit down and give it a try. And, if you have any ideas to add to the above, by all means, give me some feedback.